150 countries recognise Fiji’s compliance with global tax standards

Fiji has received a major vote of confidence from the international community, with 150 countries formally recognising the nation’s compliance with global tax standards.

The announcement was made during a Fiji Revenue and Customs Service (FRCS) press conference in Suva yesterday.

FRCS chief executive officer Udit Singh said the milestone positions Fiji as a credible and trustworthy partner globally.

“Our reforms over the past three to four years have aligned our tax policies with international standards, ensuring transparency, fairness and integrity. The world is now recognising Fiji’s commitment to good governance and fair business practices,” Mr Singh said.

Fiji was previously blacklisted by the European Union for non-cooperative tax practices, a status that limited investment opportunities and created challenges for local companies competing with multinational firms.

The country had faced criticism over tax incentives that favoured some foreign businesses and gaps in international financial reporting.

To address these concerns, Fiji undertook extensive legislative and policy reforms. These included joining the Global Forum on Transparency and Exchange of Information, signing the Multilateral Convention on Mutual Administrative Assistance in Tax Matters (MAC), and implementing measures to prevent base erosion and profit shifting by multinational companies.

FRCS director of Corporate Services Shavindra Nath said the reforms were aimed at ensuring a level playing field for businesses operating in Fiji.

“We are committed to sustaining these standards, exchanging financial information with 150 countries, and ensuring that companies are transparent and compliant,” Mr Nath said.

Officials say recognition by 150 countries is expected to boost investor confidence, attract foreign investment and strengthen economic growth.

“This global recognition confirms that Fiji can compete fairly in the international marketplace,” Mr Singh added. “It sends a strong message that Fiji is ready for business.”

Feedback: rariqi.turner@fijisun.com.fj